Car Washes Commercial Loans

With these commercial loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $462,000 was given to a Montana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Helena, Montana was able to borrow $462,000 from Mountain W. Bank. The SBA made the loan possible by guaranteeing $346,500 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
HELENA, MT 59601

SBA Loan Lender

MOUNTAIN W. BANK
1225 CEDAR
HELENA, MT 59601

This SBA bank loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/16/2003

Loan Approval Gross Amount

$462,000

Loan Approval from the SBA

Of the total $462,000 loan amount, the SBA guaranteed $346,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

SBIR Funding

Banks in Helena, Montana

Getting an SBA Loan in Montana